Dave Ramsey - Unit 1

Question 1

The first of the 7 baby steps

Answer 1

Have $1,000 in the emergency fund.

Question 2

Saving money must be a ______.

Answer 2

priority

Question 3

You must pay yourself _____.

Answer 3

first

Question 4

Give, save, then pay _____.

Answer 4

bills

Question 5

Building wealth is not evil or wrong. Money is _____.

Answer 5

amoral

Question 6

Larry Burkett, a famous Christian author, said, “The only difference in saving and hoarding is ______.”

Answer 6

attitude

Question 7

What are the three basic reasons to save?

Answer 7

1. Emergency funding
2. Purchases
3. Wealth Building

Question 8

_________ events do occur-expect them!

Answer 8

Unexpected

Question 9

Baby Step 3:

_ to _ months of expenses in savings

Answer 9

3 to 6

Question 10

A great place to keep your emergency fund is a ______ ______ account from a mutual fund company.

Answer 10

money market

Question 11

Your emergency fund is not an ______; it is ______.

Answer 11

investment; insurance

Question 12

Do not ______ this fund for purchases.

Answer 12

touch

Question 13

The emergency fund is your _____ savings priority. Do it quickly!

Answer 13

first

Question 14

Instead of _______ to purchase, pay cash using a _______ fund approach.

Answer 14

borrowing; sinking

Question 15

______ is a key ingredient.

Answer 15

Discipline

Question 16

Building wealth is a ______ not a ______.

Answer 16

marathon; sprint

Question 17

Just ____ per month, every month, from age 25 to 65. at %12 interest will build to over _______.

Answer 17

$100; $1,176,000

Question 18

________ _______ withdrawals are a good way to build in discipline.

Answer 18

Pre-authorized checking (PACs)

Question 19

Compound interest is a mathematical _______.

Answer 19

explosion

Question 20

You must start ______!

Answer 20

now

Question 21

Rate of return or ______ rate is important.

Answer 21

interest

Question 22

Saving money is _____ and _______.

Answer 22

peace; contentment